We all know we’re in a cost of living crisis and that weekly food shops are eating up more and more of our hard-earned cash. Almost everyone is feeling the squeeze, but sometimes it’s hard to wrap your head around just how much prices are rising until you see the numbers. The supermarket prices that we were used to paying have soared in the last few months – and some chains are worse than others.
The last time we saw such high grocery price inflation (a high of 11.6 percent) was after the 2008 financial crash. And now we’re reliving it all over again. So, which retailers have put their prices up the most?
Iceland shoppers – who might be drawn to the store for its seemingly low prices – have been hit the hardest, with prices going up by 6.6 percent between August 2021 and August 2022, according to research by the Grocery Price Index on Trolley.co.uk.
With an average increase of 5.7 percent in a year, Aldi had the second highest increase in prices between August 2021 and August 2022, while Morrisons, which forms one of the Big Four supermarkets, came in third, with an increase of 4.7 percent across its 13,000 products.
If we consider these price hikes in pennies, things look slightly different. Between August 2021 and August 2022, Iceland products have gone up by an average of 25p, Morrisons and Tesco by 18p, Sainsbury’s by 14p, while products in Aldi and Asda have increased by 12p.